Linamar's Linda Hasenfratz steps down as CEO, remains executive chair, company says

Linamar Corp.’s Linda Hasenfratz has stepped down as CEO of the Canadian parts supplier, the culmination of a years-long succession plan that will see long-time executive Jim Jarrell take over day-to-day activities at the company, Linamar said on Aug. 8. 

Hasenfratz, 58, will remain “a driving force” at the company, retaining her position as executive chair of Linamar’s board, where she will set the strategic direction for the company and continue to lead engagement with investors and government. 

Hasenfratz has led Linamar since 2002, when she succeeded her father Frank Hasenfratz who founded the company in 1966. She has been named to the Automotive News list of the 100 Leading Women in the North American Auto Industry five times, most recently in 2020. She is the only executive named to all five classes of that list. 

Jarrell, who joined Linamar in 1991, has been president since 2004. He will head all operational, financial, corporate development and innovation aspects of the business as CEO. 

Hasenfratz said Jarrell has been transitioning to the top leadership position for the past five years, taking on greater levels of responsibility and accountability.  

“He has earned the trust and respect of our customers, employees, business partners and investors, and has the full support and confidence of my family and Linamar's board, she said in a release. 

The company disclosed the leadership change as it reported second-quarter earnings. 

The supplier posted revenue of C$2.8 billion ($2.1 billion USD) for the three-month period, up 11 percent from C$2.5 billion in the same quarter a year earlier. Net earnings rose to C$174.1 million, up from C$135 million in the second quarter of 2023. 

Linamar, based in Guelph, Ont., ranks No. 56 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $4.87 billion in 2023.